Salient to Investors:
Lou Crandall at Wrightson ICAP said economic activity rose in part due to spillover effects from the housing recovery, but a sequence of budget-related concerns overhangs consumer spending.
Ken Goldstein at the Conference Board said the underlying economy remains relatively sound but sluggish, with the biggest positive being housing.
Economists believe Congress won’t find a resolution to prevent automatic spending cuts scheduled to begin March 1.
Michael Feroli at JPMorgan Chase said the higher probability of sequestration means US growth in 2013 will be a quarter point slower than previously estimated.
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